MEETINGS OF CREDITORS.

Evening Star, Issue 7406, 29 December 1887, Page 2

MEETINGS OF CREDITORS.

RE R. DARLING. An adjourned meeting of creditors in the estate of Robert Darling, of Kaitangata, farmer, was held this morning at the Official Assignee’s office. Mr James appeared for the bankrupt. The Assignee reviewed what had been done at the previous meeting, and said that since then he had been about arranging a sale to the Mutual Agency Company ; but, owing to the holidays and to the absence of Mr Driver, had not been able to conclude it. Had the bankrupt any offer to make? The bankrupt said he was not prepared to make an offer.

Mr Lee Smith, chairman of the Mutual Agency Company, who are creditors in the estate, made a long statement as to the verbal agreement arrived at between the Company and the bankrupt when they advanced him money on his sheep and wool. He said that the bankrupt bound himself not to sell any of his sheep except through the Company or after consulting them, but instead of that he had sold L6OO or L7OO worth of stock, and the money was not accounted for. The case was one of flagrant roguery, and, after this, stock companies that had dealings with farmers would have to treat honest men as dishonest.

The Bankrupt denied that the agreement was as stated by Mr Smith, and affirmed that he never was given to understand that he was to sell his sheep through the Company ; besides which lie had actually consulted their local agent before selling. The Assignee said the question was whether the bankrupt should be brought before the Court for examination.

Mr Mathieson, manager of the Mutual Agency Company, moved —“ That the bankrupt be publicly examined before the Supreme Court.” This was not seconded, and therefore lapsed. Mr Smith said his Company would press for a public examination of the bankrupt. He also suggested that Mr Young, the bankrupt’s partner, be examined. The Assignee remarked that there would be no difficulty about that. The Company could apply to the Court, and an order would be made. The next question was as to the sale of the estate. He understood that Mr James was prepared to make an offer after the meeting. It was resolved that the meeting bo adjourned for a week, that in the meantime consideration of any offer be hold over, and also that Mr Young be examined by the Assignee at the next meeting. RE T. W. HUNOERKOHIJ. A meeting of creditors in the estate of T. W. Hungerford, of Dunedin, contractor, was held at the Official Assignee’s office this afternoon. The bankrupt’s statement showed his liabilities to be L 1,926 13s lid and his assets L 2,750, leaving a surplus of L 823 6s Id. The unsecured creditors arc as follows :—A. and J. M'Farlane, L 149 8s; T. O’Connor, L 200; G. O'Driscoll, L4O; William Patrick, Lls 18s 8d : D. Sheedy, Greymouth, LIOO ; Griften and Givirh, Greymouth, L3O; L. Swift, Greymouth, L3O; A. Morse, Greymouth, L 80; Eishenhart, Greymouth, L 26; Hildcrband, Greymouth, L 49 18s ; Guinness and Kitchenham, Greymouth, L 35 ; Captain Crowar, Greymouth, L 25 ; Hungerford and M’Kay, Greymouth, L7OO ; T. Robinson and Co., Dunedin, L 9; Brunner Cool Co., L 8; ‘Otago Daily Times’ and ‘ Witness’ Co., L 6 ; F. Meenan, L 5 ss; Dr Maunsell, L 5 ss; M’Davitt, Greymouth, L 10; Briscoe and Co,, L2l7s 6d. The following are the secured creditors:— Bank of New Zealand, Greymouth, amount of debt L3,80S 10s 3d; estimated value of security L7OO. The securities consist of 940 Welcome shares, valued at L7OO, and a second mortgage over property at Waikari. Charles Reid, amount of debt L 1,528 8s Gd ; estimated value of security L 4,000; security, first mortgage over Waikari property. W. C. 'Smith, amount of debt L 450; value of security LI ,000; security, first mortgage over twenty-four acres of land at Waikari. Equitable Insurance Company, amount of debt L 400; valueofsecurities L2lß;securities, 800 Just-iu-Timeand 25 Welcome shares, E. P. Josling, Wellington, amount of debt L 250 ; value of security L 10 0; security, 800 Big River shares. Forsyth and Masters, Greymouth, amount of debt L 28 0; amount of security L3OO six-roomed cottage and quarter-acre of land. The total amount of debts due to secured creditors is L 6,716 Is 9d, and the estimated value of securities L 6.315. The bankrupt’s assets consists of furniture, L 400; half-share in Greymouth contract, LI,500; half-share in steamer Wallabi, L 750 ; share in Coal Creek lease, LIOO.

The bankrupt’s losses had arisen from depreciation in property and particularly in mining shares. The Waikari property had cost over L 5.000, and if he could realise he should have a surplus; but attempts to sell had been unsuccessful. He had a half share in the Grcyirtouth harbor contract with Andrew Mackay. The part nership debts amounted to L 2,298. ft would be hard to value the partnership assets, which consisted largely of plant. There was LSOO in tho hands of the Harbor Board, besides any current draw that may bo due. Ho had a half-share in the steamer Wallabi, the best offer for which was LBOO. He owed tho partnership L7OO for money taken in advance of what his partner had drawn. The gross amount of the contract was L 33.000, of which L 20,000 had been drawn. The contract had been two years in existence, and would be completed in about twelve months. In mining shares ho had lost about L 20,000 during the last four or five years. In answer to the Assignee, the Bankrupt said he would be prepared to give 3s fid in the £, but would require a few days to arrange as to its payment—whether in cash or in bills. He would have to depend upon his partner, and he was doubtful about his having available cash. Mr Fraser suggested that someone should be sent round to Grey mouth to examine the plant. The Assignee pointed out that the Bank held the power of vetoing any proposal, and after some discussion as to the advisability of adopting Mr Fraser’s suggestion, Mr Fuller (for tho Bank) objected to the proposed course, holding that tbe information could be as satisfactorily obtained by appointing someone in the locality. It was finally resolved to adjourn the meeting for a fortnight, to admit of further particulars being obtained.

Three Dollars, Please. —“ Doctor, can you tell me what will prevent my food from hnrting me ?” “ Nothing easier. Don’t eat it.” “Ha! ha! Very good joke” “Not at all. Three dollars, please. If you have any further trouble come again .and we’ll try some other course.’'—* Boston Transcript.’ . There has recently died at Kendal an old pensioner named William Lindsay, from whose neck had been extracted a; bullet which the deceased had received during the Crimean War. The bullet is the size of a marble, and had been in the deceased’s neck for thirty-three years. It was removed by a doctor shortly after Liftdfiay